bank of america mortgage relationship discount


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  • How to negotiate mortgage rate with Bank?

    6 tips to improve your mortgage rate negotiation strategy

    1Strike while your credit score is at its highest, and your debt is at its lowest.
    2) Make apples-to-apples comparisons.
    3) Give yourself a deadline for completing your negotiations.
    4) Be mindful of changes to other loan terms.
    5) Leverage customer loyalty.

  • What is a mortgage discount?

    Discount points are essentially mortgage interest that you pre-pay upfront at closing.
    Typically, one point costs 1% of the total mortgage, and permanently lowers the interest rate anywhere from 0.125% to 0.25%, depending on the type of mortgage.

  • Best conventional mortgage rates

    Best conventional mortgage rates

    Better: 3.89%Bank of America: 4.20%Citibank: 4:23%Amerisave: 4.31%PNC Bank: 4.33%DHA Mortgage Company: 4.41%Home Point Financial: 4.42%JP Morgan Chase: 4.43%

  • Will Bank of America sell my mortgage?

    Yes.
    Federal banking laws and regulations permit banks to sell mortgages or transfer the servicing rights to other institutions.
    Consumer consent is not required.

  • You can get up to 0.25% of your loan amount deducted from closing costs, up to $1,000. Bank of America offers discounts on mortgage origination fees. To get a $200 discount, you must have an average daily balance in your BofA account between $20,000 and $50,000.
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